During the 2003–04 season Parma Associazione Calcio competed in Serie A, Coppa Italia and UEFA Cup.

The reason for the bankruptcy was the financial fraud of its owner Calisto Tanzi, who had embezzled money from his company Parmalat, which also went out of business.

From the 2004–05 season onwards the club reverted to its original white shirt with a black cross design.

Club legend Antonio Benarrivo finished his career following the season, being the last player from the 1999 UEFA Cup winning team to leave.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.